China Economic ReviewA group of investors led by private equity firm PAG on Saturday announced an investment of $8.3 billion for a 60% stake in Chinese property giant Dalian Wanda’s mall unit, reports Reuters. Dalian Wanda will retain 40% in Newland Commercial Management, the holding company of Zhuhai Wanda Commercial Management Group Co, the statement said. CITIC Capital, […]
Huawei Technologies Co. sustained its run of strong quarterly profit growth, building on the resurgence of its consumer business against Apple Inc.’s iPhone and the rise of its cloud division against incumbent Alibaba Group Holding Ltd, reports Caixin. The Chinese networking and electronics leader reported net profit of about RMB 13.9 billion ($1.9 billion) in […]
China’s Everbright Bank missed profit estimates due to investment losses and an increase in cash set aside for souring property loans, sending shares of the regional lender almost 13% lower in Hong Kong on Thursday, reports the Financial Times. Everbright, an important midsized bank in China, reported a 9% decline in annual net profit to RMB 40.8 billion […]
China will lift anti-dumping and anti-subsidy tariffs on Australian wine from March 29, the Chinese commerce ministry said on Thursday, ending three years of punitive levies and offering long-awaited relief to Australian wine producers, reports Reuters. The tariffs, of up to 218.4%, were first imposed in March 2021 for a period of five years along […]
China’s major stock exchanges are facing a tough start to the year as proceeds from initial public offerings (IPOs) in Hong Kong, Shanghai and Shenzhen dwindled, reports the South China Morning Post. Tighter regulations and the loss of two potential jumbo deals from Alibaba Group Holding suggest no relief any time soon. Twelve companies raised […]